Investment News Staff
Articles from the team here at InvestmentNews.com
Articles from the team here at InvestmentNews.com
The Mutual Fund Store, one of the largest RIA firms in the industry, has inked a deal to sell a controlling stake in its business to private equity firm Warburg Pincus. The announcement comes one month after InvestmentNews first reported that a deal for the RIA was in the works, which founder Adam Bold (pictured) denied at the time.
You wouldn't blame Bruce Berkowitz if he thought the world was ganging up on him. This year, he's been embroiled in a boardroom fight at St. Joe's. Clients have withdrawn billions from the firm's mutual funds. Meanwhile, Berkowitz' big bets on big financial companies have failed to pay off so far. And now, Charles Fernandez, co-manager of the firm's flagship fund, has resigned unexpectedly.
With extreme volatility, a global debt crisis and clouds of political uncertainty consuming the economic environment for the foreseeable future, the "New Normal" appears to be continuously re-defining itself.
United Capital Financial Advisers will acquire the assets of Peak Capital Investment Services – an advisory firm with $600 million in assets under management – executives revealed at the Schwab Impact Conference here in San Francisco today.
Less than 24 hours after revealing that they had received an unsolicited takeover proposal from the Sterne Agee Group Inc., officials for SWS Group Inc. — a Dallas-based firm with several hundred advisers—unanimously rejected the offer.
In an internal memo obtained by Reuters, the new boss of UBS says the bank's U.S. brokerage is not being shopped -- despite rumors to the contrary. | PR disaster could curtail UBS' generous recruitment packages | Extra What top RIA execs make
After the Dow Jones Industrial Average dropped more than 200 points just before 3pm ET., the index staged an incredible 636 point turnaround to close at 11,240, up 3.98% for the day — just one day after one of the worst performances in stocks market history.
LPL Financial will acquire Concord Capital Partners, the first acquisition for the independent broker-dealer since its parent company --LPL Investment Holdings-- went public in November.
With a number of indie B-Ds shuttering in the last 12 months, nearly 2,400 reps have been forced to find new broker-dealers.
CFO's resignation comes just months after departure of company's CEO
